Jatoil to bring jatropha oil to markets in 2010, one year ahead of schedule: new JV announced

In Australia, Jatoil Limited (ASX:JAT) announced plans to produce its first commercial quantities of crude jatropha oil in 2010, a year ahead of previous expectations, after signing binding agreements to set up a new joint venture company, with PT Waterland International, in Indonesia. The agreements provide for the acquisition of existing jatropha crops in Central Java.

Under the JV agreement, Jatoil will invest up to $US600,000 for a 70 % stake, which covers 2,000 hectares of land in Central Java. Half of the land already holds jatropha trees, which are expected to bear their first commercial crop in 2010, while the other 1000 hectares will shortly be planted out. It is expected that the initial harvest will yield around one tonne of crude jatropha oil per hectare, increasing to about double that amount when the trees reach maturity.

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Jatoil to bring jatropha oil to markets in 2010, one year ahead of schedule: new JV announced is a post from: Biofuels Digest